MTA
MTA
MTA - Metair - Trading Statement
METAIR INVESTMENTS LIMITED
Reg No. 1948/031013/06
(Incorporated in the Republic of South Africa)
Share code : MTA
ISIN code : ZAE 000090692
("Metair" or "the Group")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited companies are required
to publish a trading statement as soon as they are reasonably certain that the
financial results for the current reporting period will differ by more than 20%
from those of the previous corresponding period.
Accordingly, Metair advises that it expects the Group`s headline earnings per
share and earnings per share to be between 74 and 89 cents per share, compared
to headline loss per share of 3 cents and a loss per share of 19 cents for the
previous corresponding period.
The improved financial performance in the first half of the year can be
attributed to the positive financial effects resulting from the restructuring
initiatives implemented during the 2009 financial year, increased demand for the
Group`s aftermarket products and better than expected original equipment (OE)
production volumes. The higher OE production volumes resulted from factors such
as the launch of 2 new models and higher than normal fleet and car hire vehicle
purchases ahead of the FIFA World Cup. Some of these events will not
necessarily replicate themselves in the second half of the year and
profitability in the second half will be dependent upon, inter alia OE
production volumes and margin management.
It is anticipated that the results for the half year ended 30 June 2010 are
expected to be published on or about
24 August 2010.
The above information has not been reviewed or reported on by the Group`s
auditors.
BY ORDER OF THE BOARD
17 June 2010
Johannesburg
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 17/06/2010 11:07:02 Produced by the JSE SENS Department.
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